@David Riedy - I have been noticing this too. I checked a text object that I created on April 23, 2022, and it had mega padding. If I convert it to a shape and back to text, the padding disappears.

I will open a Miro support ticket and will report back here with what they tell me.

@David Riedy - The response from Miro support:

Can you confirm for me whether or not this happens for any newly created objects? 
 
The difference you're describing is consistent with a UX update that was released around that time last year. With this update, text that was created already with padding was not impacted, but any newly created text objects are affected by the reduction in padding. 
 
Does this make sense? 
 
If you're noticing it happening with newly created text objects as well, would it be possible for you to record a short Loom video showcasing what's happening on your end? Thanks in advance! 

My text object was created on April 23, 2022, but I cannot created it outside of that Text object.

Can you?

@David Riedy - If you are able to reproduce it, please record a Loom video (or using any other video recording software that you can share a link of the video to) and report it to Miro support.

Thanks. I recorded myself creating the text fields and reported it.

Hi @David Riedy, @Robert Johnson,

Alyona from Miro Support is stepping in for a moment!

Just want to confirm here too, that the issue you noticed seems to be a bug indeed, and I've already escalated the case along to the developers. Once the fix is released, I will update everyone here too.

In the meantime, I wanted to share a workaround with you. My testing showed that the padding appears only when you "draw" the text box. If you select the text tool from the toolbar or use the hotkey T > click on the canvas where you want the text to be > start typing, the padding doesn't appear. Here's what I mean:

Very useful for me. 

The latest update on this issue from Miro support:

Thank you for reaching out to us to report this bug.
 
Our team has investigated the UX inconsistency and potentially plans to resolve the issue in a future UX update. That being said, we do not currently have an ETA for when this fix will be implemented.
 
Thank you again for your time and for helping us improve our product. If you have further questions or concerns, please do not hesitate to reach out.

For those new new to this post/issue, here is what happens when you create a new text object via a simple click onto the board vs. clicking a dragging (even by just a bit/pixel):